Itochu announced a “Brand-new Deal 2023” growth strategy
Itochu Corporation announced a “Brand-new Deal 2023” strategy for medium-term growth. The three-fold plan includes a net profit target of $4.97 billion, focusing on downstream demand opportunities and achieving sustainable development goals. The company also plans to maintain positive cash flows and strong credit ratings through consistent debt servicing and responsible financing of growth. Additionally, Itochu will leverage existing customer contact points downstream to generate revenue. The established FamilyMart convenience store chain provides a launching point for company products and consumer data to drive business decisions. Itochu will transform its existing infrastructure to meet the goals of Brand-new Deal 2023.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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